Is It Worth Investing In Pallavaram Real Estate?
Yes, it is worth investing in Pallavaram real estate because the area offers all types of properties, is an IT hub, has good connectivity, and will yield high profits. Its basic infra is also good, which has lured people to live here. The area has good road, rail, and metro connections. It is close to Chennai International Airport, IT hubs, and major workplaces. Property prices are growing fast due to high demand. The locale also has schools, hospitals, and shopping areas nearby. Top builders, including Prestige Group, have launched several housing projects in the area. The prices of the area are increasing and have risen upto 8% since 2024. It is developing quickly, making it a good option for both homebuyers and investors.
The current property prices are between Rs. 7600-7800 and are expected to increase. The area has all types of properties, from apartments to villas and plotted developments. These have improved the property market and made people invest in it. It's rapidly growing and will give high resale value, good rental income and ROI.
- Sought-after location: The area has very good road connections in Chennai. It is at the junction of Old Mahabalipuram Road (OMR) and Pallavaram-Thoraipakkam Road. These roads help people travel easily to many parts of the city and outside. ECR, ORR, and Trichy-Chennai Highway are also close to the locale. The area is near popular places like Velachery and Guindy, which have many IT and ITeS companies. Chennai International Airport is just 20 minutes away via NH 45.
- Many housing options: Many new housing projects have come up in the last few years. This has made the area very popular. Pallavaram now offers many choices like apartments, builder floors, and independent houses. The main reason people like the locality for its affordable prices. Even though it is close to the famous OMR, property rates are between Rs 76,000 and Rs 7800 per sq ft. These rates are lower than other IT hubs and posh areas.
- Presence of IT/ITeS companies increases rental demand and growth: Pallavaram offers many job opportunities, with companies like Atos India and Cognizant having offices here. IT parks like Olympia Tech Park, MPL Silicon Towers, Chennai Trade Centre, etc, are also within 10 km. This business growth has helped in improving the rental market. Rental rates have grown by 10-12% every year in the area. The need for rental homes has gone up a lot due to the rising IT/ITeS workforce." Housing demand is likely to rise more as the Singapore-based Ascendas-Singbridge Group is building a new IT Park along Radial Road. It is also called Pallavaram–Thoraipakkam Road.
- Modern Infrastructure: The area is becoming a modern choice for home buyers because of its facilities. There are top healthcare facilities, malls, schools, and hotels in the region. Banks and retail shops have also made it a good place in all manner.
Prestige Group pre launch new project is Prestige Pallavaram Gardens
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